Euro Hoy Colombia: Understanding Exchange Rates with Wells Fargo

Whether or not you are exempt from paying the wire transfer fee, Wells Fargo profits on the conversion of one currency to another for you. The exchange rate used when Wells Fargo converts from one currency to another is established at our sole discretion and includes a markup. The markup is intended to compensate us for various considerations, including but not limited to, incurred costs, market risks, and our desired return. The applicable exchange rate does not include, and is separate from, any applicable fees.

The exchange rate Wells Fargo provides to you might be different from the exchange rates you see elsewhere. Different customers might receive different exchange rates for transactions that are identical or similar. The applicable exchange rate could vary based on factors including, but not limited to, the currency pair, the transaction size, the payment channel, and the product type such as cash, check, money transfer and foreign currency wire transfers.

Foreign exchange markets are dynamic and rates fluctuate over time based on market conditions, liquidity, and risks. Wells Fargo is your independent counterparty in foreign exchange transactions. We may refuse to process any request for a foreign exchange transaction. Incoming wire transfers received in a foreign currency for payment to your account will be converted to U.S. dollars using the applicable exchange rate without prior notice to you. For more information, please refer to the “Applicable Exchange Rate” and “Incoming International Wire Transfers” sections of the Deposit Account Agreement. Third parties or other banks might charge you fees in addition to those described above.